TO: Board of Supervisors
FROM: Tracy Schulze - Auditor-Controller Auditor - Controller
REPORT BY: Georgina Panganiban - Financial Reporting Manager
SUBJECT: Annual Comprehensive Financial Report and Single Audit Report for Fiscal Year Ending June 30, 2021
RECOMMENDATION
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Auditor-Controller to present and request acceptance of the Annual Comprehensive Financial Report (ACFR) and the Single Audit Report - Schedule of Expenditures of Federal Awards, for fiscal year ended June 30, 2021.
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EXECUTIVE SUMMARY
The Auditor-Controller will provide a brief summary of the County's Annual Comprehensive Financial Report (ACFR) and the Single Audit Report - Schedule of Expenditures of Federal Awards, for the fiscal year ended June 30, 2021. The reports are on file with the Clerk of the Board.
FISCAL & STRATEGIC PLAN IMPACT
Is there a Fiscal Impact?
No
County Strategic Plan pillar addressed:
Effective and Open Government
ENVIRONMENTAL IMPACT
ENVIRONMENTAL DETERMINATION: The proposed action is not a project as defined by 14 California Code of Regulations 15378 (State CEQA Guidelines) and therefore CEQA is not applicable.
BACKGROUND AND DISCUSSION
California Government Code Section 25250 addresses the requirements of the County to have an examination of the financial statements in accordance with generally accepted auditing standards. The Annual Comprehensive Financial Report (ACFR) presented to you today includes an unmodified (clean) opinion from the County's external auditors Brown Armstrong Accountancy Corporation.
The ACFR has five components as follows: (1) the Introductory Section, including the Transmittal Letter signed by Auditor-Controller, Tracy Schulze, and County Executive Officer, Minh Tran, (2) the Financial Section, including the Audit Opinion and Management's Discussion and Analysis (MD&A), (3) the required Basic Financial Statements Section and note disclosures, (4) the Supplementary Information Section on non-major funds, enterprise funds and ...
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